ProShares UltraPro S&P 500 (NYSEARCA:UPRO) Trading Down 9.7%

Shares of ProShares UltraPro S&P 500 (NYSEARCA:UPRO) dropped 9.7% on Monday . The company traded as low as $61.85 and last traded at $63.89. Approximately 11,325,396 shares changed hands during mid-day trading, an increase of 96% from the average daily volume of 5,771,127 shares. The stock had previously closed at $70.77.

ProShares UltraPro S&P 500 Stock Performance

The company’s 50 day simple moving average is $76.43 and its 200 day simple moving average is $69.17.

Institutional Investors Weigh In On ProShares UltraPro S&P 500

Institutional investors have recently bought and sold shares of the business. Mark Sheptoff Financial Planning LLC acquired a new position in shares of ProShares UltraPro S&P 500 in the fourth quarter valued at about $25,000. ORG Partners LLC purchased a new position in shares of ProShares UltraPro S&P 500 in the 2nd quarter worth about $84,000. Hantz Financial Services Inc. purchased a new stake in shares of ProShares UltraPro S&P 500 during the 2nd quarter valued at approximately $93,000. PNC Financial Services Group Inc. bought a new stake in ProShares UltraPro S&P 500 during the fourth quarter valued at $103,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in ProShares UltraPro S&P 500 in the 4th quarter worth $111,000.

About ProShares UltraPro S&P 500

The ProShares UltraPro S&P500 (UPRO) is an exchange-traded fund that is based on the S&P 500 index. The fund provides 3x leveraged daily exposure to a market cap-weighted index of large-cap and mid-cap US companies selected by the S&P Committee. UPRO was launched on Jun 25, 2009 and is managed by ProShares.